Focus on core businesses: In the 1980s, this led to huge amount of
merger and acquisition activity.

Shareholder value: Companies were “priced” based on their shareholder
value, that is, their discounted cash flow, as a result of high-yield
bonds that allowed a few people to buy a company and leverage it with
debt.

Management must stress value, they must consider outsourcing in all
their nonstrategic functions.